If legendary investor Warren Buffet admires your brilliance, then it surely means that you are some kind of genius. Well going by the recent reports, even Buffet, and his right hand, Charlie Munger have now praised Bezos for his incredible ability to handle business with ease. As Jeff Bezos has not just limited himself to Amazon retail business, rather he has even ventured into cloud computing, which now has become one of their primary source of income, along with businesses ranging from space travel to Artificial intelligence. As of 2017, Jeff Bezos net worth exceeds $ 80 billion, while in 2016 his net worth was $45.2 billion. However back in 1995, Bezos had a team of 10 people and used to drive the packages himself to the post office. So it’s really interesting to know that how this all happened?
Jeff Bezos Net Worth
|Year||Jeff Bezos Net Worth|
|2017||$ 80 billion+|
|2016||$ 45.2 billion|
|2015||$ 34.8 billion|
|2014||$ 32 billion|
|2013||$ 27.2 billion|
In between 2013 and 2017, Bezos added $ 53 billion to his net worth. The info above is retrieved from Forbes.com
How Jeff Bezos Started Amazon?
Prior to 1994, Jeff Bezos had a stable job, with lucrative future. However, he became interested in the internet business when he came across that data suggesting its phenomenal growth at 2,300 percent. Bezos wanted to tap the uncharted arena and thus came up with a business plan. However, the starting was quite humble, as he took a loan from his parents, added his own savings and started the company in his garage. At first, he just concentrated on books segment, as he could easily provide a wide range which not possible with a physical store. The beta version of the website was made available on July 16, 1995. Within the first two months, the company exceeded the expectations of Bezos as its sales reached $20,000 a week.
However, the journey was never easy from the very start. As soon after the launch, even traditional retailers came up with their own e-commerce website. Still, the IPO was launched in 1997 and the stock was priced at just $18 per share. Many experts doubted the viability of their business, especially after the dot-com bubble. The company somehow remained unaffected and unprofitable and continued experimenting with the market trends.
Over the subsequent years, Amazon reinvented itself and the retail industry. They even changed the way people read books bu launching Kindle, which was a completely new device in the market. Other major products and services included Amazon Prime, AmazonFresh, Echo and Amazon Web Services.
Despite expert’s unfavorable opinions and stiff market competition, the company not only survived by also thrived.
So if someone had invested just $1000 before market IPO. Thier investment would have now become $ 616,440. As the stock was split once in 1998 and twice in 1999.
Jeff Bezos and Amazon Fun Facts:
# Bezos was born on Sunday, January 12, 1964.
# Back then his mother was still a teenager. She married Miguel Bezos when Jeff was just 5 years old.
# He truly believes in regret minimization framework. As failing in something is always better than never trying it and regretting in the future.
# While deciding the name for his new startup he even considered, Cadaver, and Relentless.
# The first book that Amazon could sell was Fluid Concepts and Creative Analogies by Douglas Hofstadter.
# Bezos was serious about the business from the early start. Thus, employees back then were expected to work at least for 60 hours per week.
# Amazon might soon become a trillion dollar company and Jeff Bezos net worth may exceed that of Bill Gates.
# He has even invested in Google.